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Regime: Mixed — VIX steady at 17.44 despite higher oil and Dow futures, indicating risk appetite remains selective and rate-sensitive. Today’s market themes: USD Strength: DXY supported by relatively hawkish Fed pricing. Oil Volatility: Geopolitical tensions and inventory concerns drive swings. Data Dependence: Retail sales releases in GBP and CAD in…
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Where we are: The DXY is holding steady near recent highs at 99.30 in pre-market trading, consolidating after yesterday’s mixed session. The index remains within striking distance of the six-week high printed earlier in the week, supported by a relatively hawkish Fed narrative. We saw a modest overnight range, contained by…
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Where we are: S&P 500 futures are up around 0.4% as we head into the New York open, holding onto gains from the previous session. The index is attempting to consolidate above 5300 after a volatile week, supported by strength in the tech sector. This level puts it comfortably above yesterday’s…
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Where we are: Gold is currently trading around $4,520, consolidating gains after a choppy overnight session. Bullion found support near $4,490, holding above the prior NY close of $4,515, and is testing resistance near the $4,530 level as Europe unwinds. What’s driving it: The primary driver for gold remains the continued…
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Where we are: EUR/USD is currently trading around 1.1605, testing the lower end of its recent range. Overnight, the pair remained largely contained between 1.1590 and 1.1620, failing to capitalize on the mild risk-on sentiment seen in Asia. This level is significantly below the prior NY close, highlighting the persistent selling…
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Where we are: The Nasdaq 100 futures are holding steady this morning, trading around the 19,800 level, within the overnight range. While the index saw some softness yesterday, it is still tracking to open near the highs of the week. The overnight range has been relatively tight, and we’re seeing some…
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Where we are: GBP/USD is currently trading around 1.3405, pressured after disappointing domestic data. The pair traded in a tight overnight range of 1.3400-1.3430. This is below yesterday’s New York close around 1.3420, suggesting the intraday bias is bearish. Key support lies at 1.3370, with resistance around 1.3450. What’s driving it:…
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Where we are: USD/JPY is currently trading around 159.05, edging lower after hitting intraday highs overnight in Asia. The pair remains elevated, threatening the prior intervention zone around 160.00. We’re well above the prior NY close as the market tests the BoJ’s resolve. What’s driving it: The prospect of further BoJ…
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Where we are: Dow futures are up 300 points at 39,800, building on yesterday’s gains and on track for a winning week. The index is pushing toward the psychological 40,000 level, having traded in a tight range overnight following yesterday’s rally, and is significantly above its prior NY close. What’s driving…
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Where we are: USDCAD is trading around 1.3660, consolidating after yesterday’s choppy session. The pair has largely traded within a tight 1.3640-1.3680 range overnight, and sits slightly above its prior NY close. Key resistance remains around the 1.3700 handle, while support is eyed near 1.3620. What’s driving it: The Canadian Dollar’s…
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Where we are: Bitcoin is currently trading around $68,050, having traded in a relatively tight $67,500-$68,500 range overnight. This is roughly in line with yesterday’s New York close, but the market remains tentative after failing to break convincingly above the $70,000 resistance earlier this week. We’re seeing muted price action across…
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Where we are: The FTSE 100 is currently trading around 10,475, down from its overnight high of 10,490. It’s holding above its intraday low near 10,460, but the index is under pressure as it struggles to maintain the gains seen earlier in the week. The current level is below yesterday’s New…
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Snapshot: The Australian Dollar is trading softer after a surprise rise in the Australian unemployment rate to 4.5%. The weak labour market data has dampened expectations for further RBA rate hikes. The U.S. Revised UoM Consumer Sentiment is due at 10:00 ET. A break below $0.7100 would signal further downside, potentially…
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Snapshot: WTI crude is trading softer after yesterday’s rally, pressured by renewed hopes of a US-Iran agreement which could ease supply concerns. Focus shifts to the 10:00 ET Revised UoM Consumer Sentiment release, which could influence risk appetite. Watch for a break below $95.00 which would open a retest of weekly…
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Snapshot: The Nikkei 225 is holding onto gains near 63,300, driven by continued optimism surrounding domestic technology and AI stocks, spurred further by SoftBank’s portfolio companies potentially pursuing US IPOs. Focus will remain on assessing the broader implications of BoJ Board Member Koeda’s speech in Fukuoka regarding economic activity, prices, and…
